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Mid East Info
a day ago
- Business
- Mid East Info
BurjX Secures FSRA License, Launches ADGM-Regulated Trading Platform with 100+ Digital Assets - Middle East Business News and Information
BurjX, the UAE-born digital asset trading platform, has officially secured its Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi, the Capital of the UAE, for brokerage and custody activities. In a landmark achievement, BurjX becomes a fully regulated digital asset brokerage platform to offer and support trading of over 100 digital assets, setting a new standard for market access, regulatory depth, and product breadth in the region. The UAE's cryptocurrency market is projected to generate US$395.9 million in revenue in 2025, with the user base expected to reach 3.88 million by 2026 . With nearly one-third of the population set to own crypto within the next year, the UAE ranks among the highest adoption rates globally. BurjX is setting the benchmark for what a regulated, homegrown platform can be. A Mission Born in the UAE, Led by Its Founders 'We came to the UAE to build something that reflects the future of this region: regulated, trusted, and globally competitive,' said Omar Abbas, Co-Founder and CEO of BurjX, who previously co-founded NDAX, Canada's leading crypto exchange. 'Securing our FSRA license and launching with 100+ assets is proof of what's possible when you build with conviction from the ground up. We're not another imported platform entering the UAE. We're a homegrown one, built here to lead globally.' 'It's rare to see a startup go live with this level of regulatory and technical execution,' said Adam Ferris, Co-Founder and Chairman, a Harvard JD/MBA graduate who previously held key roles at Goldman Sachs. 'This launch validates the strength of our infrastructure, the caliber of our team, and our ambition to position BurjX as a global player from day one.' As part of its governance framework, BurjX has appointed Dr. Ryan Lemand to its Board. A former Binance board member and ex-Head of Risk at UAE's Securities and Commodities Authority (SCA), he brings deep expertise in regulation, digital assets, and institutional finance. Trade 100+ Tokens with Instant AED On-Ramps Powered by Zand: BurjX makes it easy to go from dirhams to digital assets in seconds. Integrated with UAE banking rails through Zand Bank, users can instantly fund their accounts in AED and trade over 100 tokens within seconds, all under the oversight of ADGM's world-leading virtual asset framework. As one of the region's first true fiat-to-crypto bridges, BurjX offers frictionless access to digital markets that is secure, seamless, and proudly UAE native. Regulated, Institutional-Grade Custody: As one of the few platforms in the region licensed for both brokerage and custody, BurjX combines the strength of ADGM's virtual asset regime with the speed of institutional-grade infrastructure. Built on NASDAQ-grade systems that process over 1 million transactions per second and secured by Fireblocks' MPC wallet technology, BurjX offers fast execution, deep liquidity, and secure custody on a single, unified platform. From first-time traders to institutions, every transaction is backed by multi-layer governance, comprehensive insurance across hot and cold wallets, and robust regulatory oversight. A New Standard in Private Wealth: For family offices, institutions, and high-net-worth clients seeking a more bespoke experience, BurjX has launched its Private Client Division – delivering white-glove OTC services, tailored execution, dedicated relationship coverage, and access to one of the most extensive digital asset offerings in the region. Designed for sophisticated investors, it empowers them to build high-conviction, diversified portfolios with clarity, control, and confidence. What's Next for BurjX: With its launch now official, BurjX is entering a new phase of growth; focused on scaling across the UAE and the broader MENA region, while doubling down on its core pillars: security, simplicity, and regulatory strength. With rising adoption from retail users, growing demand from private wealth clients, and deep liquidity across 100+ assets, BurjX is positioned to be the Middle East's homegrown on-ramp to the global crypto economy. About BurjX: BurjX is a UAE-born digital asset brokerage and custodian, fully licensed by the Financial Services Regulatory Authority of ADGM, the international financial centre of Abu Dhabi. Founded by Omar Abbas, co-founder of NDAX, and Adam Ferris, a Harvard JD/MBA and ex-Goldman Sachs, BurjX offers institutional-grade trading and custody, seamless AED on and off ramps, and multi-layer security infrastructure. Built for trust and performance, BurjX is redefining how the region engages with digital assets and setting a new benchmark for regulated, homegrown innovation.
Business Insider
2 days ago
- Business
- Business Insider
BurjX Secures FSRA License, Launches ADGM-Regulated Trading Platform with 100+ Digital Assets
Abu Dhabi, United Arab Emirates, July 21st, 2025, Chainwire BurjX, the UAE-born digital asset trading platform, has officially secured its Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi, the Capital of the UAE, for brokerage and custody activities. In a landmark achievement, BurjX becomes a fully regulated digital asset brokerage platform to offer and support trading of over 100 digital assets, setting a new standard for market access, regulatory depth, and product breadth in the region. The UAE's cryptocurrency market is projected to generate US$395.9 million in revenue in 2025, with the user base expected to reach 3.88 million by 2026. With nearly one-third of the population set to own crypto within the next year, the UAE ranks among the highest adoption rates globally. BurjX is setting the benchmark for what a regulated, homegrown platform can be. A Mission Born in the UAE, Led by Its Founders 'We came to the UAE to build something that reflects the future of this region: regulated, trusted, and globally competitive,' said Omar Abbas, Co-Founder and CEO of BurjX, who previously co-founded NDAX, Canada's leading crypto exchange. 'Securing our FSRA license and launching with 100+ assets is proof of what's possible when you build with conviction from the ground up. We're not another imported platform entering the UAE. We're a homegrown one, built here to lead globally.' 'It's rare to see a startup go live with this level of regulatory and technical execution,' said Adam Ferris, Co-Founder and Chairman, a Harvard JD/MBA graduate who previously held key roles at Goldman Sachs. 'This launch validates the strength of our infrastructure, the caliber of our team, and our ambition to position BurjX as a global player from day one.' As part of its governance framework, BurjX has appointed Dr. Ryan Lemand to its Board. A former Binance board member and ex-Head of Risk at UAE's Securities and Commodities Authority (SCA), he brings deep expertise in regulation, digital assets, and institutional finance. Trading 100+ Tokens with Instant AED On-Ramps Powered by Zand BurjX makes it easy to go from dirhams to digital assets in seconds. Integrated with UAE banking rails through Zand Bank, users can instantly fund their accounts in AED and trade over 100 tokens within seconds, all under the oversight of ADGM's world-leading virtual asset framework. As one of the region's first true fiat-to-crypto bridges, BurjX offers frictionless access to digital markets that is secure, seamless, and proudly UAE native. As one of the few platforms in the region licensed for both brokerage and custody, BurjX combines the strength of ADGM's virtual asset regime with the speed of institutional-grade infrastructure. Built on NASDAQ-grade systems that process over 1 million transactions per second and secured by Fireblocks' MPC wallet technology, BurjX offers fast execution, deep liquidity, and secure custody on a single, unified platform. From first-time traders to institutions, every transaction is backed by multi-layer governance, comprehensive insurance across hot and cold wallets, and robust regulatory oversight. A New Standard in Private Wealth For family offices, institutions, and high-net-worth clients seeking a more bespoke experience, BurjX has launched its Private Client Division – delivering white-glove OTC services, tailored execution, dedicated relationship coverage, and access to one of the most extensive digital asset offerings in the region. Designed for sophisticated investors, it empowers them to build high-conviction, diversified portfolios with clarity, control, and confidence. What's Next for BurjX With its launch now official, BurjX is entering a new phase of growth; focused on scaling across the UAE and the broader MENA region, while doubling down on its core pillars: security, simplicity, and regulatory strength. With rising adoption from retail users, growing demand from private wealth clients, and deep liquidity across 100+ assets, BurjX is positioned to be the Middle East's homegrown on-ramp to the global crypto economy. About BurjX BurjX is a UAE-born digital asset brokerage and custodian, fully licensed by the Financial Services Regulatory Authority of ADGM, the international financial centre of Abu Dhabi. Founded by Omar Abbas, co-founder of NDAX, and Adam Ferris, a Harvard JD/MBA and ex-Goldman Sachs, BurjX offers institutional-grade trading and custody, seamless AED on and off ramps, and multi-layer security infrastructure. Built for trust and performance, BurjX is redefining how the region engages with digital assets and setting a new benchmark for regulated, homegrown innovation.
Tahawul Tech
2 days ago
- Business
- Tahawul Tech
BurjX secures FSRA License, launches trading platform with 100+ digital assets
Abu Dhabi — BurjX, the UAE-born digital asset trading platform, has officially secured its Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of ADGM, for brokerage and custody activities. In a landmark achievement, BurjX becomes a fully regulated digital asset brokerage platform to offer and support trading of over 100 digital assets, setting a new standard for market access, regulatory depth, and product breadth in the region. The UAE's cryptocurrency market is projected to generate US$395.9 million in revenue in 2025, with the user base expected to reach 3.88 million by 2026. With nearly one-third of the population set to own crypto within the next year, the UAE ranks among the highest adoption rates globally. BurjX is setting the benchmark for what a regulated, homegrown platform can be. 'We came to the UAE to build something that reflects the future of this region: regulated, trusted, and globally competitive,' said Omar Abbas, Co-Founder and CEO of BurjX, who previously co-founded NDAX, Canada's leading crypto exchange. 'Securing our FSRA license and launching with 100+ assets is proof of what's possible when you build with conviction from the ground up. We're not another imported platform entering the UAE. We're a homegrown one, built here to lead globally.' 'It's rare to see a startup go live with this level of regulatory and technical execution,' said Adam Ferris, Co-Founder and Chairman, a Harvard JD/MBA graduate who previously held key roles at Goldman Sachs. 'This launch validates the strength of our infrastructure, the caliber of our team, and our ambition to position BurjX as a global player from day one.' As part of its governance framework, BurjX has appointed Dr. Ryan Lemand to its Board. A former Binance board member and ex-Head of Risk at the UAE's Securities and Commodities Authority (SCA), he brings deep expertise in regulation, digital assets, and institutional finance. BurjX makes it easy to go from dirhams to digital assets in seconds. Integrated with UAE banking rails through Zand Bank, users can instantly fund their accounts in AED and trade over 100 tokens within seconds, all under the oversight of ADGM's world-leading virtual asset framework. As one of the region's first true fiat-to-crypto bridges, BurjX offers frictionless access to digital markets that is secure, seamless, and proudly UAE native. BurjX combines the strength of ADGM's virtual asset regime with the speed of institutional-grade infrastructure. Built on NASDAQ-grade systems that process over 1 million transactions per second and secured by Fireblocks' MPC wallet technology, BurjX offers fast execution, deep liquidity, and secure custody on a single, unified platform. From first-time traders to institutions, every transaction is backed by multi-layer governance, comprehensive insurance across hot and cold wallets, and robust regulatory oversight. For family offices, institutions, and high-net-worth clients seeking a more bespoke experience, BurjX has launched its Private Client Division – delivering white-glove OTC services, tailored execution, dedicated relationship coverage, and access to one of the most extensive digital asset offerings in the region. Designed for sophisticated investors, it empowers them to build high-conviction, diversified portfolios with clarity, control, and confidence. With its launch now official, BurjX is entering a new phase of growth, focused on scaling across the UAE and the broader MENA region, while doubling down on its core pillars: security, simplicity, and regulatory strength. With rising adoption from retail users, growing demand from private wealth clients, and deep liquidity across 100+ assets, BurjX is positioned to be the Middle East's homegrown on-ramp to the global crypto economy.
Khaleej Times
15-07-2025
- Business
- Khaleej Times
UAE-built crypto exchange launched by BurjX with Sharia-compliant features in pipeline
A new UAE-based cryptocurrency platform has officially launched with an ambitious plan to reshape digital asset trading in the region — and a long-term vision to offer Sharia-compliant products that meet both regulatory and religious standards. BurjX, co-founded by Canadian crypto entrepreneurs Omar Abbas and Adam Ferris, went live on Tuesday, July 15, with approval from the Abu Dhabi Global Market (ADGM). The platform allows users to trade more than 100 digital assets directly in UAE dirhams, with funds safeguarded under institutional-grade security and compliance frameworks. But while the exchange is now operational, its most distinctive offering — Sharia-compliant crypto products — is still in the works. Stay up to date with the latest news. Follow KT on WhatsApp Channels. 'It's not going to be available from day one,' Abbas clarified to Khaleej Times. 'But we are working on that as a rollout product for sure.' He added that any such offerings will be vetted and approved by recognised Sharia authorities before launch. 'We will partner with the appropriate Sharia boards, and when we do launch, it's going to be approved by the appropriate Sharia regulators,' he said. No definitive timeline has been set. Regulated, secure and easy to use Licenced by the Financial Services Regulatory Authority (FSRA) of ADGM, BurjX is both a broker and custodian. Client assets are stored using Fireblocks, a globally trusted custody solution, and protected by a comprehensive insurance policy covering hot and cold wallets. 'Our clients' investments are safeguarded by Fireblocks — it's institutional-grade custody infrastructure, backed by insurance,' Ferris said during the launch. The platform also supports instant deposits and withdrawals in dirhams, integrated directly with UAE banks. Abbas described this as a key differentiator: 'That's our bread and butter — making it super easy to get your money in and out of crypto in dirhams, with minimal friction.' From a compliance standpoint, the platform incorporates robust onboarding, trade surveillance and wallet risk policies to screen out bad actors. 'We're focused on building something safe, regulated, and secure — not just fast,' Abbas said. Not just for whales — or day traders While built on institutional infrastructure, BurjX is designed to support users of all experience levels. 'Whether you're a first-time trader like my own mother, or managing an institutional desk, we built this for you,' Abbas said. The platform features more than 100 fully vetted digital assets at launch — including major tokens like Bitcoin, Ethereum, Solana, Dogecoin, and others — and spans multiple sectors such as AI, real-world assets and Layer 1 blockchains. 'It's not just about the names,' he explained. 'We're enabling users to build a diversified portfolio across different categories of the market.' For high-net-worth investors, BurjX has launched a Private Client Group and OTC desk, offering personalised execution, deep liquidity and white-glove service. 'It's a premium experience with the clarity of private wealth, the control of institutional-grade execution, and the confidence of a regulated platform,' Abbas added. UAE-first, founder-built — and personally funded BurjX's founders repeatedly emphasised that the platform was not only built in the UAE but designed specifically for the region's investors. 'We are not offshore entities entering the region. We're homegrown and globally headquartered in ADGM,' Ferris said. 'We're building for this region.' Abbas said the team chose to base themselves entirely in the UAE. 'Our entire team — engineers, designers, compliance leaders — is based here,' he said. 'Each one of them is like a partner in the company. They deal with it with care and obsession.' And the founders didn't just commit their time — they risked everything. 'I sold my house, sold a big stake of my Index equity, uprooted my family and landed in the UAE, risking everything on a belief that this region deserves something better.' When asked whether that sacrifice had been worth it, he said: 'If I had known it would take this long — almost three years — I might not have done it. But now that we're here, now that it's Day One, I can tell you it was worth it. This journey took everything out of me. It tested me, personally and professionally. But we showed up every day, and we built something real. Something this region can trust. 'Not just another crypto exchange' The founders describe BurjX as fundamentally different from existing exchanges that have expanded into the region from abroad. 'What you're witnessing today isn't just another crypto trading platform,' Abbas told attendees during the launch event in Abu Dhabi. 'This is the next category leader for the Mena region, built from the ground up in the UAE — the capital of capital.' Abbas previously co-founded NDAX, Canada's largest regulated exchange, which processed over $20 billion in trading volume and served more than 500,000 users. His new venture, he says, is not a copy-paste operation. 'This time, we came to raise the bar. To build something better, something that's homegrown. In a region that's shaping the future of finance.' Despite launching at a time of surging global interest in crypto, BurjX's founders insist they are not chasing headlines. 'We're not here to capture a significant market share,' Abbas told reporters. 'We just want to focus on building a profitable platform, then roll out new products the market needs.' He added that they have no interest in replicating the hype cycle often associated with crypto launches. 'We're not just focused on hype. We're more interested in putting together a product you can comfortably use, trust, and refer your friends to.' Asked what success would look like a year from now, Abbas answered simply: 'Profitability — and being part of a regulated ecosystem that raises the bar.' Why ADGM? 'ADGM was the first regulator to pioneer a comprehensive virtual asset framework,' Abbas noted. 'We knew that if we could meet the bar here, we'd be building on the strongest foundation possible.' Ferris added: 'When you're building a financial services firm, you need a foundation that you can rely on. Even if the bar is high, that's exactly what you want.' The pair believe the UAE offers a combination of regulatory clarity, economic momentum and untapped potential. 'This region, especially the UAE, is going to be even more exponential in growth over the next 10 to 15 years than we've seen before,' Ferris explained. 'You want to be in a market with a stable regulatory framework and serious growth.' 'No more platforms built abroad, operated overseas, and plagued by delays and confusion,' Abbas concluded. 'BurjX is built for us.' As users began scanning the QR code projected on the launch screen to download the app, he added: 'This is just the beginning. Today, the belief becomes real.'
Mid East Info
06-05-2025
- Business
- Mid East Info
BurjX Secures In-Principle Approval from ADGM's Financial Services Regulatory Authority - Middle East Business News and Information
Igniting a New Era for Crypto in MENA with Professional-Grade Trading and Bank-Grade Security The future of crypto in MENA is taking shape. BurjX, a UAE-based digital asset brokerage, announced today that it has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This marks a key regulatory milestone as BurjX moves towards securing its Financial Services Permission (FSP) to operate as a fully regulated, institutional-grade trading and custody platform . As the pioneer of the world's first comprehensive virtual asset regulatory framework, ADGM's approval reinforces BurjX's commitment to building a next-generation platform founded on trust, transparency, and institutional adoption in MENA. A New Era for Crypto in MENA: 'This is an exciting step forward – not just for BurjX, but for crypto in MENA as a whole,' said Omar Abbas, Co-Founder & CEO of BurjX. 'Secure, institutional-grade custody is the foundation of a trusted trading platform, and the MENA region is ready for it. As BurjX moves toward final regulatory approval, we are reimagining crypto trading – seamlessly integrating cutting-edge security with a frictionless trading experience in a single, unified platform.' Adam Ferris, Co-Founder & Chairman of BurjX, underscored the company's vision: 'This milestone is just the beginning. We're building something that doesn't just meet the highest security and regulatory standards – it's about raising the bar for enterprise-grade custody, compliance, and market integrity. BurjX is shaping the future of responsible digital asset trading.' Wall Street Meets MENA: The Next Crypto Powerhouse: BurjX was founded to bring North American expertise into MENA's rapidly growing crypto landscape. Omar Abbas, co-founder of NDAX – Canada's leading cryptocurrency exchange, has over a decade of experience in fintech, banking, and digital assets. He's worked at Canada's top banks, bridging traditional finance with the rise of crypto markets. Adam Ferris, a Harvard JD/MBA who previously held key roles at Goldman Sachs, has deep expertise in high-growth financial and technology markets, strengthening the team's strategic leadership and expansion capabilities. Recognising the immense potential of the MENA region – ranked as the seventh-largest crypto market globally in 2024, valued at an estimated $338.7 billion and accounting for 7.5% of the world's total transaction volume – they've assembled a team of seasoned experts to reshape the crypto landscape and setting a new standard for digital asset trading. Raising the Bar for Regulated Crypto: With final regulatory approval on the horizon, BurjX is preparing to launch later this year, bringing a full suite of digital asset trading and custody solutions to market. Designed for retail, professional, and institutional traders, the platform provides secure fiat on/off-ramps, deep liquidity, and advanced execution tools – all within a tightly governed and fully compliant framework. At the heart of BurjX's security framework is its integration with Fireblocks, the global leader in digital asset custody. By leveraging Fireblocks' multi-party computation (MPC) technology and cutting-edge security protocols, BurjX ensures institutional-grade asset protection, secure transfers, and real-time risk management – setting a new benchmark for safeguarding digital assets in MENA. Strengthening its security-first approach, BurjX has secured market-leading insurance coverage, offering comprehensive protection for client and operational assets against a range of potential risks, ensuring resilience and trust in its platform. About BurjX: BurjX is a UAE-based digital asset brokerage and custodian designed to bring secure, efficient, and cost-effective access to digital assets such as Bitcoin, Ethereum and Solana. Built from the ground up for MENA, BurjX is in the final stages of regulatory approval with the FSRA of ADGM, paving the
